VIDEO: Many of my children don’t want to follow me — Razaq Okoya

Razaq Okoya, the esteemed founder of Eleganza Industrial City Limited and the Aare of Lagos, has shared a candid reflection on his entrepreneurial journey and the challenges of succession within his own family. In a recent interview, Okoya credited his late father, a tailor and materials seller, for instilling in him an early passion for commerce. Despite attending school, Okoya's father prioritized his involvement in the shop, a decision that Okoya believes was instrumental in shaping his business acumen and passion for fashion and industry.

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Right from my youth, I determine what I want to be. My father is a tailor, and he sells tailoring materials. I went to school, but my father didn’t allow me much, because I have to be in his shop, keep on doing tailoring, selling buttons and everything.

Okoya's narrative highlights a generational shift in aspirations, particularly noting that many of his own children, even his senior ones, are opting for independent paths rather than continuing the legacy of the family business. He observes that while some young people succeed on their own, building a business from scratch in today's economy is a formidable task. This sentiment resonates with many established Nigerian business leaders who grapple with ensuring the continuity of their enterprises amidst evolving career ambitions of the younger generation.

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From there I get my fashion. From there I specialise in what I want to do in life and I’ve done it very successfully. I have no regret at all. I thank him so much, and with my mother’s support.So these have been helping me quite a lot.

Despite this familial dynamic, Okoya's personal passion for industry and manufacturing remains undimmed. He explicitly desires his legacy to be synonymous with industrial development, a vision he is determined to uphold. This interview, originating from The Punch, a prominent Nigerian newspaper, offers a unique perspective on the intersection of tradition, family, and modern business challenges within the Nigerian context. It underscores the unique value placed on industrial legacy and the personal drive to maintain it, even when faced with the independent choices of one's heirs.

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But Children of nowadays, they have their own ideas. They hardly listen to you. They want to do it their own way, which is not really working. Some are working, but not all, unless most of them who have a very good children background, an industrial background, they have to follow their parents to grow, But to be on your own now and start growing into the economy is not easy.